Insight of automobile users in sinking Market From China Automobile Circulation Association

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The following is the Insight of automobile users in sinking Market From China Automobile Circulation Association recommended by recordtrend.com. And this article belongs to the classification: Automobile industry, Consumer research.

Recently, the China Automobile Circulation Association (CAAC) jointly issued the “report on insight into the sinking market of automobile users” (hereinafter referred to as the “report”). According to the report, the car ownership in the sinking market is low and the market potential is huge. In addition, since the beginning of this year, the sinking market has shown a more obvious growth trend, with the proportion of automobile users and online car purchasing behaviors showing an increasing trend.

Sink market potential is huge, or usher in industry increment

With the overall improvement of the national economy, the per capita consumption level of the third, fourth and fifth tier cities is also constantly improving, and the demand for cars is also gradually increasing. According to the report, the proportion of automobile users in the sinking market has reached 46%, with an increase of more than 40% in the past half year. Compared with the first tier, new first tier and second tier cities, the sinking market has a vast area, a large population and a high proportion of young groups, but the penetration rate of cars is only 22.3 vehicles / 100 households, and the car ownership is low. Moreover, the policy of automobile going to the countryside and the popularization of high-speed road facilities will gradually release the potential demand of the sinking market, bringing huge market potential, and the automobile industry may usher in new growth.

Corresponding to the huge demand of automobile market, the infrastructure construction of sinking market is continuously improved and upgraded, and users have more complete vehicle scenarios. According to the report, infrastructure construction in the sinking market has been accelerated, with about 50% of the country’s expressways to be built in northwest, southwest and South China, and more than 40% of the mileage to be built in Xinjiang, Guangxi, Yunnan and other provinces.

The automobile industry is facing a huge development space in the sinking market, and rural users are also supported by relevant policies. According to the report, government departments at all levels promote consumption in the sinking market through policies such as automobile going to the countryside. Zhejiang, Guangdong and Sichuan provinces have issued relevant measures to provide subsidies to rural car buyers to a certain extent. Meanwhile, many automobile enterprises also independently participate in the activities of new energy going to the countryside, bringing tangible products to rural users.

From the perspective of development potential, use scenarios and policy support, the overall purchasing power of the sinking market is gradually rising, and the automobile industry is gradually increasing the market to seek new increment.

Users’ decision cycle in sinking market is shorter

Although the automobile industry was cold in the first half of the year, the sinking market users showed a positive consumption picture, showing an overall growth trend. According to the report, high intention car buyers in the sinking market grew rapidly, with an increase of 55.3% from January to August.

According to the report, the price range of the sinking market users’ mainstream concern is 100000-150000, and the attention of 200000-250000 models has increased significantly, accounting for 1.4% of the total. The increasing attention of users to vehicles in the sinking market reflects the increasing trend of purchasing power in the sinking market. In addition, according to the relevant data of vehicle country preferences of cities at all levels in the report, the online users of sinking market tend to own brands up to 25.7%, higher than that of first and second tier cities.

In terms of model selection, the sinking market users prefer cars and SUVs. According to the report, in August 2020, car preference accounted for 46.1% and SUV preference reached 43.4%. Civic, haver and xuanyicheng were the most concerned models in August 2020.

According to the report, users in the sinking market are more motivated to express their intention to buy a car online, and the decision-making cycle of retaining capital is shorter. The index of car purchase decision-making in sunken cities is only 1.22, while that of first tier cities is 1.40. This index decreases with the decrease of city level, and the performance in new second tier and second tier cities is close to 1.31 and 1.30.

In addition, the sinking market users prefer to find cars and consume content on the vertical platform. At the same time, when users browse pictures and texts or watch live broadcast and video content, users will retain capital. The report shows that the proportion of purchase intention caused by video content in the sinking market is higher than that in other cities.

In the morning of 8-10 o’clock, the sinking market users prefer to brush the car video in the understanding car emperor. However, according to the statistics of the data center of understanding car, the peak of the video content affecting the conversion of retained capital appears at 20-22 o’clock. Different from the video, the live conversion of retained funds performed better in the afternoon, with the highest at 14-18 o’clock.

Now the automobile industry has gradually got rid of the predicament in the first half of the year, and the huge potential of sinking market will inject new vitality into the automobile industry. The development of mobile Internet technology will help the automotive industry accelerate the online transformation, find new business growth points through diversified sales channels, strengthen the recognition and participation of the sinking market on online channels, and make it more convenient for automobile users to choose and buy cars. Read more: know the car emperor & China Automobile Circulation Association: consumer purchase intention survey after the epidemic situation China Automobile Circulation Association & understand car Emperor: insight report of Chinese automobile consumers in 2019 (attached download) China Automobile Circulation Association: monthly report of China’s imported automobile market in April 2020 China Automobile Circulation Association: 57 newly authorized 4S stores of luxury brands in the first quarter of 2020 China Automobile Circulation Association: in March 2020, the sales volume of narrow passenger cars in China will reach 1.045 million 40.4% year-on-year decrease: auto users read the analysis report on buying behavior in November 2019: insight report on China’s auto market and users in the first half of 2020 Report of China automobile consumers’ word of mouth index report of China Automobile Circulation Association: August 2020 China automobile consumer word of mouth index report understand car Emperor: big data report of automobile industry in 2018 (download attached) China Automobile Circulation Association: EU passenger car demand shrank by 32% in the first eight months of 2020 China Automobile Circulation Association: Automobile Dealers’ inventory coefficient in August 2020 is 1.50, China Automobile Circulation Association: 20 In August of 20, the actual passenger car market was 1.7 million, with a year-on-year increase of 9%

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